Fpf Workflow Procedural Guide Test 1

28 Questions | By FPF_Hammer | Last updated: Mar 21, 2022 | Total Attempts: 65

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This is the first of 3 tests that you must complete to show that you fully understand the concepts, policies, and procedures of the FPF Workflow Procedural Guide.

Questions and Answers

1.

In what case does a business email address need to be listed in social media?
- A.
  
  If you leave a post on a Facebook friend's wall.
- B.
  
  If any FPF employee makes reference to their profession or makes any reference to mortgage lending in social media, they must list their business email on those sites.
- C.
  
  If you open a Twitter account to share inspirational quotes.
2.

What is the required login frequency required by FPF to ensure transactional responsiveness?
- A.
  
  Once a day on normal business days
- B.
  
  No less than twice daily on normal business days
- C.
  
  No less than 5 times daily on normal business days
- D.
  
  6 times per weekend
3.

What three prerequisites must be met prior to installation of Encompass360 and obtaining Lenny Login Credentials?
- A.
  
  Proper licensure if a Persona requires licensure
- B.
  
  Buying a new laptop computer
- C.
  
  FPF Workflow Procedural training and testing
- D.
  
  Signed Information Security Acknowledgement
- E.
  
  Installing iris scan software on your computer
- F.
  
  A 7 day waiting period after updating your email
4.

In short, the eFolder in Encompass360 is:
- A.
  
  Accessible only from iPad
- B.
  
  Where you find a loan approval
- C.
  
  A new feature in Lenny
- D.
  
  A secure, paperless document management system
5.

All information requests or notices must be logged in the eFolder.
- A.
  
  True
- B.
  
  False
6.

What 2 things must be done when receiving “hard copy” documents from Consumers?
- A.
  
  Scanned and uploaded to the proper placeholder within the eFolder immediately.
- B.
  
  Mailed to corporate office upon successful upload.
- C.
  
  Scanned into your computer hard drive.
- D.
  
  Shredded upon successful upload.
- E.
  
  Stored in your refrigerator after opening.
7.

Original “hard copy” documents must be:
- A.
  
  Stored in a fire safe vault.
- B.
  
  Burned after upload.
- C.
  
  Mailed back to the customer.
- D.
  
  Locked in a secure filing cabinet until being returned to the applicant.
8.

What is the most efficient and secure means of gathering Consumer information?
- A.
  
  FedEx
- B.
  
  United States Postal Service
- C.
  
  The Loan Center
- D.
  
  E-mail
9.

What loan products are eligible for eSigning?
- A.
  
  VA Loans
- B.
  
  USDA Loans
- C.
  
  Conventional Loans
- D.
  
  FHA Loans
- E.
  
  Hard Money Loans
10.

What is the most efficient, secure method for a consumer to “wet sign” loan disclosures?
- A.
  
  E-mail
- B.
  
  In Lenny
- C.
  
  Adobe Connect
- D.
  
  EFolder Download, print and fax with bar-coded coversheet.
11.

Where are “wet signed” documents automatically placed after being faxed with the toll free bar-coded cover sheet?
- A.
  
  Unassigned placeholder of the eFolder
- B.
  
  Your email inbox
- C.
  
  In Lenny
- D.
  
  The New Documents placeholder of the eFolder
12.

Name two of four ways a User is notified that they have received documents they have requested from the consumer.
- A.
  
  User gets an email notifying them of new documents
- B.
  
  There is a green alert inside the Encompass360 pipeline
- C.
  
  SMS text message to your cell phone
13.

Mavent is a:
- A.
  
  Character in "Gone with the Wind"
- B.
  
  Integrated quality assurance system
- C.
  
  Superhero from the planet Krypton
- D.
  
  Flood certification system
14.

How many FPF configured “hard stops” are provided to make processing the application more efficient and accurate?
- A.
  
  6
- B.
  
  7
- C.
  
  1
- D.
  
  9
15.

Milestones are:
- A.
  
  Communication points in Lenny
- B.
  
  Points earned for closing loans
- C.
  
  Specific times when an application is handed off, or advanced from one Persona to the next for a specified function to occur.
- D.
  
  Along the side of Route 80
16.

UC’s are:
- A.
  
  Undercover Cops
- B.
  
  Use Cases, a documented, organic ledger of the entire FPF technical workflow.
- C.
  
  Underwriter Counteroffer, a documented ledger of a counteroffer
- D.
  
  University of California
17.

Whose corporate responsibility is it to pursue continuing education requirements to remain informed about changing regulations and requirements?
- A.
  
  Chief Performance Officer
- B.
  
  Chief Financial Officer
- C.
  
  Chief Compliance Officer
- D.
  
  Chief Executive Officer
- E.
  
  Director of Business Development
18.

Whose job is it to Monitor branch P&Ls to ensure profitability and to advise the CFO of adverse financial concerns or trends?
- A.
  
  Corporate Branch Advocate
- B.
  
  Chief Compliance Officer
- C.
  
  President
- D.
  
  Corporate Branch Administrator
- E.
  
  Hammer
19.

Whose job is it to Report any adverse activities or noncompliant activities to the CCO or Board Members?
- A.
  
  President
- B.
  
  Corporate Branch Administrator
- C.
  
  Director of Business Development
- D.
  
  Director of Processing
20.

Whose job is it to visit remote branch locations every 6 months to perform facility inspections for information security?
- A.
  
  Men in Black
- B.
  
  FPF Business Representatives
- C.
  
  FPF Account Representatives
- D.
  
  Chief Compliance Officer
21.

What types of files will be searched for on PC’s to determine the security of digital consumer documentation?
- A.
  
  Internet browser history
- B.
  
  PDF’s or other digital image types
- C.
  
  Photos and Videos
- D.
  
  Microsoft Office Documents like Word and Excel
22.

What is the FPF policy related to storing electronic documentation on PC’s?
- A.
  
  It must be password protected
- B.
  
  It must be in a folder marked "FPF"
- C.
  
  It is not allowed
- D.
  
  Old documents must be deleted after 90 days
23.

Whose job is it to approve all advertising?
- A.
  
  Corporate Branch Administrator
- B.
  
  Chief Compliance Officer
- C.
  
  Director of Business Development
- D.
  
  Corporate Branch Director
24.

Branch Directors and MLO’s are strictly prohibited from representing themselves as:
- A.
  
  Realtors
- B.
  
  Owners
- C.
  
  Certified Mortgage Planning Specialists
- D.
  
  Most Trusted Loan Officers
- E.
  
  Corporate Officers
25.

Branch Directors can represent the authority to hire or terminate employees in the licensed facilities they oversee.
- A.
  
  True
- B.
  
  False